Leases

12 Months Ended

Jun. 30, 2022

Disclosure Text Block [Abstract]

Leases

Note 14. Leases

The Company leases office space in Huntersville, NC, Carrollton, Texas and Taiwan and leases equipment in Canandaigua, NY. During the fourth quarter 2022, the Company determined that it is reasonably certain that it will exercise its option to extend its leases in both Huntersville, NC and Carrolton, Texas for an additional three years which resulted in the remeasurement of its right of use asset and corresponding right of use liability. In addition, a new lease for office space in Taiwan was executed resulting in the initial measurement of the related right of use asset and liability.

Following adoption of ASC 842, lease expense excludes capital area maintenance and property taxes.

The components of lease expense were as follows (in thousands):

	Year Ended June 30, 2022		Year Ended June 30, 2021
Operating Lease Expense	$	348	$	310

Supplemental balance sheet information related to leases was as follows (in thousands):

	Classification on the Consolidated Balance Sheet	June 30, 2022
Assets
Operating lease assets	Other non-current assets	$	1,126
Liabilities
Other current liabilities	Current liabilities		313
Operating lease liabilities	Other non-current liabilities		811

Weighted Average Remaining Lease Term:
Operating leases	3.42 Years
Weighted Average Discount Rate:
Operating leases	10.03	%

The following table outlines the minimum future lease payments for the next five years and thereafter, (in thousands):

For the year ending June 30,
2023		412
2024		366
2025		357
2026		199
Thereafter		—
Total lease payments (Undiscounted cash flows)		1,333
Less imputed interest		(208	)
Total	$	1,125